Technical Field
The present disclosure relates generally to vehicle purchasing. More particularly, the present disclosure relates to methods, systems and devices for providing condition reports for used vehicles.
Discussion of Related Art
Many vehicles, such as automobiles, boats, all-terrain vehicles, motorcycles, sports vehicles, etc. come into the possession of auto dealers, financial institutions and/or other businesses and companies after having, in some cases, at least one previous owner. Generally, these vehicles are accumulated and resold by car dealers, wholesalers, vehicle auctions run by third parties, and the like.
When a vehicle is designated for sale, the vehicle seller needs to communicate details to potential buyers. Before listing a vehicle for sale, the seller or a third party may prepare vehicle condition information to share with potential buyers. Condition information/reports, which may record details about the exterior, interior, mechanical and electrical systems, available options, and the book and market value of the vehicle, may be categorized as seller prepared reports, auction prepared reports, or condition specialist (“third-party”) prepared reports.
Typically, before purchasing a vehicle, a buyer researches and considers potential purchases, e.g., reviews web postings from car dealerships, wholesalers, auction companies, etc., to narrow down considered vehicles by reviewing condition information/reports. In general, condition information determines which vehicles are considered.
CarFax and AutoCheck produce and sell vehicle history reports on individual vehicles. The reports are comprised of history data gathered from insurance companies, state motor vehicle departments and other sources. A major limitation of vehicle history reports comprised of data from insurance companies and motor vehicle departments is that such data often inaccurately describes the vehicle's current condition and/or damage. These reporting techniques do not address normal wear and tear, minor collisions, scrapes, and paint damage when an insurance company does not pay for the repairs. As one example, private owners sometimes pay for repair of damage out of pocket to avoid increases in insurance rates. Additionally, large companies with fleets, such as rental car companies being one common example, often self-insure and/or repair their vehicles.
Due to the major limitation of CarFax and AutoCheck vehicle history reports, professional buyers or consumers visually inspect millions of used vehicles. Millions of vehicles are driven or shipped by truck to auction sites where buyers can visually inspect them.
Sellers want to have condition reports that will help them sell more cars. Buyers want to have condition reports to save them time by having reliable and comprehensive information from the start. Buyers seek objective, detailed, consistent, and unbiased reporting; however, current condition reports may only partially meet their needs.
There is a need in the art to improve how condition reports are used and generated.